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dc.contributor.authorSamuelsen, Torstein
dc.contributor.authorSvendsen, Casper Sormerud
dc.date.accessioned2023-10-17T12:21:28Z
dc.date.available2023-10-17T12:21:28Z
dc.date.issued2023
dc.identifier.urihttps://hdl.handle.net/11250/3097028
dc.descriptionMasteroppgave(MSc) in Master of Science in Business, Sustainable Finance - Handelshøyskolen BI, 2023en_US
dc.description.abstractThis study explores the relationship between ESG scores and P/B ratios for Nordiclisted companies. We find indications of differences in average P/B and ESG scores. To explore if ESG drives P/B differences, we develop a panel-regression model with six control variables. We find evidence that assets with an ESG score have a higher P/B ratio (β = 0.0046***), after controlling for traditional drivers of P/B. This confirms our expectation that investors are willing to pay a premium for ESG performance. Contrary to the literature, further investigation shows that low ESGscoring companies tend to have a higher price premium than high ESG-scoring companies when accounting for control variables and NAs. We discuss implications and possible explanations for these findings and formulate advice for Nordic firms and Asset managers. Keywords:en_US
dc.language.isoengen_US
dc.publisherHandelshøyskolen BIen_US
dc.subjectsustainable financeen_US
dc.subjectfinansen_US
dc.titleESG Scores and Equity Value: A Study of ESG Premium in the Nordic marketsen_US
dc.typeMaster thesisen_US


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